A screenshot of BurstNET's page
(WEB HOST INDUSTRY REVIEW) — Web hosting and colocation provider BurstNET Technologies announced on Thursday it has received growth capital from an undisclosed institutional investor.
The move comes a few months after BurstNET expanddd into the US West Coast marketplace by offering dedicated hosting in Los Angeles.
Though the company did not disclose the exact amount of the funding, it said it will use the capital to build a larger data center and expand into new markets.
M&A advisory group Harbor Ridge Capital acted as the advisor for BurstNET on the transaction. BurstNET has a primary data center at its Scranton, Pennsylvania headquarters, with additional points of presence in Los Angeles, Miami, and Manchester, UK.
The company provides a range of hosting solutions, including cloud computing, dedicated servers, virtual private servers, and colocation racks and cages.
Using the growth capital, BurstNET will expand into new, high demand geographic markets, as well as expand into a new 30,000 square foot data center that will replace its headquarters.
BurstNET will also add more resources to customer service, and improve it software development efforts to more effectively automate its front end and back end platforms.
“Having bootstrapped our business since inception and managing to see such strong growth, we are excited to have our first round of institutional capital to propel us forward,” said Shawn Arcus, CEO of BurstNET. “Being properly capitalized gives us tremendous potential, along with a new, much larger, state of the art data center, which will allow us to serve larger complex hosting and colocation data center client opportunities.”
About Justin Lee
Justin Lee has been a staff analyst with theWHIR since 2004. He writes about a range of web hosting and IT-related issues facing the industry on the WHIR website, as well the print version of the WHIR magazine. Follow him on Twitter @Justin_theWHIR.
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